Definition: A Balance Sheet is a financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time.

In Plain English: A Balance Sheet is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders.

A Balance Sheet is one of the three core financial statements that are used to evaluate a business. They provide the basis for computing rates of return for investors and for evaluating a company’s capital structure.